Agenda
| Wednesday, August 31 |
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7:00 a.m. – 8:00 a.m.
Session Coordinator(s) Facilitator(s) |
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8:00 a.m. – 8:10 a.m.
Session Coordinator(s) Facilitator(s) |
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8:10 a.m. – 9:00 a.m.
Presentation(s): View Presentation Moderator(s): Ronald J. Harasym, FSA, CERA, FCIA, MAAA Presenter(s): Dave Czernicki, FSA, MAAA; Ronald J. Harasym, FSA, CERA, FCIA, MAAA; David K. Sandberg, FSA, CERA, MAAA A walk through time in terms of historical practice, current developments and future trends.Session Coordinator(s) Facilitator(s) |
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9:00 a.m. – 10:30 a.m.
Presentation(s): View Presentation Moderator(s): Trevor C. Howes, FSA, FCIA, MAAA Presenter(s): Larry J. Bruning, FSA, MAAA; Trevor C. Howes, FSA, FCIA, MAAA; David K. Sandberg, FSA, CERA, MAAA The driving forces for improved model governance are originating simultaneously from senior management and the boards of directors of Life Insurance companies, from the industry regulatory authorities, and from the actuarial profession itself, both in the US and internationally. Speakers representing these key stakeholders will discuss model governance issues from differing perspectives, covering both current and emerging developments. The presentations will cover:
How can the interests of all these stakeholders be addressed in a consistent and effective Model Governance approach that is most appropriate for life insurance actuaries their employers, shareholders and regulators? Session Coordinator(s) Facilitator(s) |
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10:30 a.m. – 11:00 a.m.
Session Coordinator(s) Facilitator(s) |
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11:00 a.m. – 12:00 a.m.
Presentation(s): View Presentation Moderator(s): Joseph N. Soga, ASA, MAAA Presenter(s): Andrew Ching Ng, FSA, MAAA; David Halldorson; Darin G. Zimmerman, FSA, MAAA Technology is embedded in all phases of a model's lifecycle. When doing it right, technology can be an enabler for better and more effective model governance. The implementation of a comprehensive model governance framework itself can often be complex as well. Again proper utilization of technology can make a big difference in helping an organization achieve its model governance objective. In this session, you will hear first hand from experienced industry practitioners about the latest developments and key considerations an organization should pay attention to in the integration of technology and model governance.Session Coordinator(s) Facilitator(s) |
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1:15 p.m. – 1:55 p.m.
Moderator(s): Anthony Dardis, FSA, CERA, FIA, MAAA; David Halldorson A facilitated discussion among attendees around the hard issues of model governance. The good, the bad and the hurdles of implementing model governance operating models where each situation requires its own customized solution. How does anyone get any respect doing / working on model governance when it is often viewed as another layer of cost, a disabler in terms of speed and often a road block? How difficult is it to get folks to change? Attendees will be able to submit, in advance topics, they would like to see discussed.Session Coordinator(s) Facilitator(s) |
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1:55 p.m. – 2:10 p.m.
Session Coordinator(s) Facilitator(s) |
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2:10 p.m. – 3:10 p.m.
Presentation(s): View Presentation Moderator(s): Zohair A. Motiwalla, FSA, MAAA Presenter(s): Anthony Dardis, FSA, CERA, FIA, MAAA; Zohair A. Motiwalla, FSA, MAAA New and more complex modeling demands has increased the need to employ model efficiency techniques. The first part of this session briefly introduces and contrasts these techniques (clustering, proxy modeling, Least Squares Monte Carlo simulation and replicating portfolios to name a few, as well as use of technology in general) and discusses how companies validate and create governance over the application of these techniques as part of the financial reporting process. The second part of this session will look at model efficiency and governance from the standpoint of VM-20 specifically. There will be time set aside at the end for questions and interaction with participants.Session Coordinator(s) Facilitator(s) |
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3:10 p.m. – 4:20 p.m.
Moderator(s): Dave Czernicki, FSA, MAAA Presenter(s): Ronald Howard Barlin, FSA, CERA, MAAA; Dave Czernicki, FSA, MAAA; Eric Y. H. Lin, FSA, MAAA What is "Best Practice" when there is always room for improvement? What are its components and what is practical? Tools of the trade, cost / benefit tradeoffs, and how do you get the best bang for the buck? How do you keep it pragmatic, effective, efficient and repeatable? How does one promote such a governance program? What benefits that can be obtained from an actionable and well-structured model governance framework.Session Coordinator(s) Facilitator(s) |
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4:20 p.m. – 4:30 p.m.
Moderator(s): Ronald J. Harasym, FSA, CERA, FCIA, MAAA Session Coordinator(s) Facilitator(s) |
| Thursday, September 1 |
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12:00 a.m. – 1:15 p.m.
Session Coordinator(s) Facilitator(s) |